Options During Economic Hardship

How can I lower my payment to an affordable amount for me?
I can’t make my payments. What options are available to me?
What is forbearance?
What are the requirements for forbearance?
Will I receive a bill for the interest due during the forbearance period?
How can I get a copy of the forbearance application?
I have a job, but do not make enough money to pay anything on my student loans. What options are available to me?
What is an economic hardship deferment?
Are there any other situations in which I would qualify for an economic hardship deferment?
How can I determine if I am eligible for this deferment?
I lost my job. Can Campus Partners postpone my payments for a while?
What are the requirements for receiving the unemployment deferment?
How long does the unemployment deferment last?
How can I get a copy of the unemployment deferment application?

How can I lower my payment to an affordable amount for me?
Unless your school is listed below, you should contact them to request special payment arrangements. Your lender may allow Campus Partners to set your account up on "special billing."

"Special billing" is an agreement made between you and your school. This allows you to be billed a different amount for a specified period of time. The special billing payment amount is typically lower than the actual repayment amount.

Borrowers who received their loans from any of the following schools should only contact Campus Partners for this service. Please call (800) 334-8609.

Western States Chiropractic	Bentley College
Naropa University	Fisk University
Mass College Of Pharmacy	George Mason University
Parker College of Chiropractic	University of Texas-Arlington
College of St. Rose	Bard College at Simon's Rock
Brandeis University	Vassar College
Smith College	Cleveland Institute of Music
University of Virginia Law School Foundation	Mount Olive College
Texas Southern University	Oglethorpe University
Bethel College	Lancaster General College of Nursing & Health Science
Lancaster General - Allied Health	Seattle University
Trinity University	Fuller Theological Seminary
Bay State College	Marymount University
Maryland Institute of Art	Birmingham Southern College
University of Montevallo	Webster College
Indiana Institute of Technology	Benedictine University Rhodes College
Fort Valley State University	Arcadia University
Dickinson College	Emory and Henry College
University of Idaho	New England Culinary Institute
Sounthern Polytechnic State University	Limestone College
Florida A&M University	Big Bend Community College
Lee University	Park University
Burlington College - Vermont	Dutchess Community College
Gettysburg College	Iona College
Montreat College	Nazareth College
Ohio Christian University	Paine College
Stevens Institute of Technology	Tusculum College
Winston Salem State University	Auburn University - Montgomery

I can’t make my payments. What options are available to me?
If you can’t make your payments, you may be eligible for hardship deferment, unemployment deferment or forbearance. Call Campus Partners at (800) 334-8609 to see if you are eligible for one of these options.

What is forbearance?
Forbearance allows a break from making payments, or grants a reduced payment amount. Interest continues to accrue during any period of forbearance, and you can opt to pay interest during this time. There are two types of forbearance. The Mandatory Forbearance (SLDB) can be granted based on your income and student loan payment debt ratio. The General Forbearance can be granted if you are experiencing financial difficulties, have a change in employment, unexpected medical expenses or other “acceptable” reasons. Forbearance is considered upon written request. The maximum forbearance time allowed over the life of the loan is 3 years, renewable at 12-month intervals.

What are the requirements for forbearance?
Effective July 1, 1993, if your annual Title IV loan repayment obligation equals or exceeds 20% of your gross income or if your lending institution determines you qualify for other reasons, you may submit a written request for Mandatory Forbearance (SLDB). You must complete an Application for Mandatory Forbearance and submit this form to the school where you received the loan(s) or to Campus Partners. You will need to provide supporting documentation for a forbearance request.

If you are requesting Forbearance for any other acceptable reason including, but not limited to financial difficulties, change in employment, unexpected medical expenses, you must complete an Application for General Forbearance and submit this form to the school where you received the loan(s) or to Campus Partners. You will need to provide supporting documentation for a forbearance request.

If you received your loan from the list below, please contact Campus Partners.

Western States Chiropractic	Bentley College
Naropa University	Fisk University
Mass College Of Pharmacy	George Mason University
Parker College of Chiropractic	University of Texas-Arlington
College of St. Rose	Bard College at Simon's Rock
Brandeis University	Vassar College
Smith College	Cleveland Institute of Music
University of Virginia Law School Foundation	Mount Olive College
Texas Southern University	Oglethorpe University
Bethel College	Lancaster General College of Nursing & Health Science
Lancaster General - Allied Health	Seattle University
Trinity University	Fuller Theological Seminary
Bay State College	Marymount University
Maryland Institute of Art	Birmingham Southern College
University of Montevallo	Webster College
Indiana Institute of Technology	Benedictine University Rhodes College
Fort Valley State University	Arcadia University
Dickinson College	Emory and Henry College
University of Idaho	New England Culinary Institute
Sounthern Polytechnic State University	Limestone College
Florida A&M University	Big Bend Community College
Lee University	Park University
Burlington College - Vermont	Dutchess Community College
Gettysburg College	Iona College
Montreat College	Nazareth College
Ohio Christian University	Paine College
Stevens Institute of Technology	Tusculum College
Winston Salem State University	Auburn University - Montgomery

You are required to continue making payments on your loan(s) until notification is sent stating that a forbearance has been processed on your account.

Will I receive a bill for the interest due during the forbearance period?
If you elect to pay interest during the forbearance period, you will receive a monthly interest bill. If you choose to pay the accrued interest at the end of the forbearance period, you will receive an interest bill approximately 20 days prior to the forbearance end date. This bill is due the day after the forbearance ending date.

How can I obtain a copy of the forbearance application?
You can get a forbearance application by calling Campus Partners at (800) 334-8609, or by downloading the Application for Forbearance form from this site.

I have a job, but do not make enough money to pay anything on my student loan. Are any benefits available for me?
If you are working full time and earn no more than the Federal Minimum Wage or an amount equal to 10% of the poverty line for a family of two, you may qualify for the economic hardship deferment.

What is an economic hardship deferment?
The economic hardship deferment allows for a period of time where no payment is necessary and interest does not accrue. This deferment is renewable at 6-month intervals. You receive an added 6-month grace period at the end of each deferment period. During this grace period, no payment is necessary and interest does not accrue. You are returned to your normal billing cycle once the grace period ends. The maximum amount of economic hardship time allowed over the life of the loan is 3 years.

Are there any other situations in which I would qualify for an economic hardship deferment?
If you meet one of the following conditions and wish to apply for a deferment, contact your lender or Campus Partners to see if you qualify for an economic hardship deferment. You may qualify:

• If you receive payment under a federal or state public assistance program, such as Aid to Families with Dependent Children, Supplemental Security Income (SSI), Food Stamps, or state general public assistance.
• If you have been granted an economic hardship deferment on any of your other federal loan(s) for the same period of time being requested. You will need to attach documentation stating that your other loans are in an economic hardship deferment.

How can I determine if I am eligible for this deferment?
If you feel that you qualify for the economic hardship deferment, you must complete the Application for Hardship Deferment form and submit this form to the school where you received the loan(s) or to Campus Partners.

I lost my job. Can Campus Partners postpone my payments?
If you are seeking or unable to find full-time employment, you may qualify for the unemployment deferment. This is a period of time when no payment is required, and interest does not accrue.

What are the requirements for receiving the unemployment deferment?
To qualify for the unemployment deferment, you must:

• Provide documentation, such as proof that you are collecting unemployment benefits.
• Provide proof that you are actively seeking employment if you are unemployed. Please send a list of companies where you have applied for employment, including the company name and address and send the name and telephone number of a person to contact for verification.
• If you are working part-time and are unable to find full-time employment (full time = 30 hours per week for three consecutive months). You must provide the name of a public or private employment agency where you have registered for work, a contact name, and its address and telephone number. (This does not include school placement offices or temporary employment agencies).

How long does the unemployment deferment last?
Unemployment deferments are processed in six-month increments with a three-year limit. You will receive a six-month post-deferment grace period at the end of each deferment period. Once the six-month post deferment grace period ends, your loan will be placed back into repayment.

How can I obtain a copy of the unemployment deferment application?
Call Campus Partners at (800) 334-8609, or download a form from our Web site.